Why Crypto may go wrong for some people

[odunybiz]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

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[qwertyup23]

I honestly think that beginner investors have the wrong mindset about understanding the basics of cryptocurrencies. They think that this kind of platform is a gateway in order to absoultey reap rewards after they invested a certain amount of money. But in reality, investing in cryptocurrencies require all the patience, determination, and knowledge similar to your conventional investment mechanisms (e.g. stocks, banks, real estate, etc.).

If a person wants to profit in cryptocurrency, then they should treat it seriously- investing without knowing what you just entered into results into loss of your profit in the future.

[Die_empty]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Your friend invested in a shitcoin and should have known the consequences. Most of these tokens can appreciate within a short period and they can also drop to zero in no time. Investing in such tokens is like gambling so it is not out of place if he compares his own experience to gambling or Ponzi scheme.

Crypto trading involves high risk so it is important to gain knowledge of how it works and always invest what you can afford to lose. If you are not knowledgeable about trading,  you will pay the price for ignorance through losses.

Everybody must not engage in trading. If I am a bitcoin investor, I don't necessarily need to spend all my time reading about bitcoin. I just need basic skills on how to keep my hodling safe and keep getting updates from bitcointalk about current developments. I am sure this forum has the information I will always need. You have to also note OP that a few months might not be enough to make a profit from your investment because sometimes it could take years.

[bitmover]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

The problem is that your friend isn't interest in cryptocurrencies. 

He is just looking for a quick and easy money. He will most likely get scammed, which ponzy schemes and similar...

He isn't interested in cryptocurrencies,  neither bitcoin.

Bitcoin may not offer quick and easy money, but probably some use cases may interest him

[Nwada001]

Those were considered losses because he made the wrong choice of investment; either the token that was chosen was pulled or the price dropped below expectations. If the token just suffered a little dump and the project is still actively developing, then there might be a higher possibility for him to recover his money. That's only if he did not sell out of panic, but if it was a scam token, then he will have to learn from his own experience and decide what to buy next time.
 
People fail to understand most of the time that not every coin listed on any exchange is actually worth buying; they should learn how to do their own research before they go into buying any token. Some tokens out there don't even have any good use cases, which could be a reason why the token price is being pumped and sustained at the level that it might be, which could be as a result of a manual pump done by the team itself to attract victims who could be scammed.
 
Unless newbies who are coming into the crypto community make time for themselves, learn how to do their own research, and don't be dependent on what people tell them to buy, they will never stop being victims of losing to some random cheap tokens.

[noorman0]

Crypto essentially does 2 things:
Profits: passively
Benefits: Actively

And the average person seeks the effectiveness of the above options that in their expectations have the potential to make them rich whether that makes sense or not. Of course you can guess that investing for profit will be the choice of the majority based on their instincts, people prefer to earn only by speculation which then they will conclude that crypto is a gamble when they fail. Meanwhile, to feel the benefits of crypto requires active efforts as normal people want to earn money.

[tech30338]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

This is what i always hear from people complaining about loosing money to crypto but there is only few mistake why they lose money

• First is what you just have said being lazy - when they first heard of crypto they are excited they just pour the money and expect it tobe a millionaire
• Lack of study or reading things about what they are doing - you just don't cast a rod and expect a tuna immediately, you need to work hard and do some sleepless night
• Investing everything on things they knew is too good to be true, lots of my friends did this then blame crypto to be a scam

This is why I always remind my friends when they invest it to crypto, expect the worse i don't sugarcoat it, always giving them the negative side, if they knew the risk they will eventually have to study, before they invest on things.

[Pandu Geddon]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

this is his mistake, he invests in tokens most likely he does not know how the project from which the token came is running. invest only in Bitcoin. just focus on Bitcoin and you will benefit. not a scam thinking that makes you worry.
there are so many aspects that make the token eventually decrease in value and eventually go down. therefore it is too risky for anyone to hold altcoins or tokens for long periods.

[SeriouslyGiveaway]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token.

How did he invest his money in that token?

Who is a person introduced him to invest in that token? He should complain with that person, not with you.

He now said he is quiting crypto and now comparing crypto investing to that of gambling.

With his response, I believe he did not know anything about this market, about that token before investing. With such empty knowledge but very greedy minds, he gambled but this market is not a gambling casino.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works.

They heard of quick rich stories and want to get rich quickly. Because they heard stories of getting rich quickly and easily with cryptocurrency, they joined market with belief that they will get rich in a same way. I don't want to see they have loss but if they got loss, they deserve it.

[LogitechMouse]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

I know how that feels to lose thousands of dollars investing into one project because I also did that mistake just a few years ago.

I will not say the particular project, but I invested IIRC around $2000 or even more on it. It's not a scam token though because it's still running, but I lost a huge amount of money on that project. Do I see crypto investing as gambling? Not at all because in investing, what you need is knowledge, and of course capital as well. Gambling only requires luck, and a bit of knowledge about the game, but I can't say that investing into crypto is gambling. Maybe it's a gamble for those newbie investors who lost a huge amount of money like your friend.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Crypto isn't for lazy people? I'm lazy so it's not for me then.

Kidding aside, I'm really a lazy person, but I found myself successful most of the time in crypto investing. Maybe the only mistake that I did was the one I shared, but all of my decisions are correct most of the time. Yes I did some research as well, but what I focused on investing my money with is the coins that has been there for long time already meaning the top coins are the ones that I'm investing. TBH, I'm lazy enough to not spend many time researching blah blah though I watch some videos at my free time.

[Cantsay]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

My guess is that your friend probably went to invest in a project that offered him some good-to-be-true returns and that's what made him invest in it.

As a newbie who just got into crypto, it would be a stupid decision to start your journey with altcoins, first and foremost acquire some bitcoin. Yeah, we all know that Bitcoin won't make you rich overnight but still buy some and keep if you want to buy any altcoin make sure you don't go for any shitcoin you could buy some ETH and some other solid altcoins, your main aim should be for you to learn how everything works before you can start doing intense research on the project to spot the one that will give you a good return.

If you just come into the crypto space because you saw someone invested in a project and was lucky enough to make a profit from it and you thought of investing in some shitty project just because they also promised the same thing the lucky project promised you'll only end up investing your money in a rug pull project.

~~~
He should complain with that person, not with you.

However, seeking counsel from others is not a bad idea. Let's say that after investing in that project that resulted in his loss, if he returns to the same person who directed him to that project, the only thing he'll receive from that person is a bit of consolation, and if care is not taken, he might direct him to another project, and he might even further explain why the previous project didn't favour him in order to convince him even more.

[Poker Player]

Your friend invested in a shitcoin and should have known the consequences. Most of these tokens can appreciate within a short period and they can also drop to zero in no time. Investing in such tokens is like gambling so it is not out of place if he compares his own experience to gambling or Ponzi scheme.

Well, although it is easier to happen with shitcoins, it can also happen with Bitcoin for those who have the wrong mindset. Of gambler, as we are talking about.

He is the typical one who will tell you that Bitcoin is a ponzi scheme, but next cycle, when the price goes over $100K he will be attracted. He'll see Youtubers say we'll hit $1M in another cycle or two, and when the price goes parabolic, approaching $200K, then he'll buy. And when the price goes down, instead of holding until the next cycle, he will sell at a loss out of panic because he will believe the price is going to 0.

Many of today's Bitcoin haters followed that pattern in the past. And instead of recognizing their mistake and buying Bitcoin now, they secretly wish the price would go to 0 to be right.

[yudi09]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

The basic mistake your friend made was investing in tokens instead of coins that have proven to be good assets.
Since the advent of ICO, IEOs and NFT projects many people have been disappointed because they ended up no longer having a price. Since the shift in the trend of ICO, IEO and now NFT projects, Bitcoin is still an investment asset that does not make investors complain about losing money.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Direct people who previously invested in tokens and shitcoins to switch to Bitcoin if you don't want to experience what your friend experienced.

Investing in Bitcoin is a smart investment for people who want to invest in crypto.
What counts in the cryptocurrency world is not cryptos like tokens and shitcoins generated from obscure projects but BTC.
The more BTC you have the more it makes many people smile happily.

[Dzwaafu11]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Your friend made the wrong decision for himself, and how did he get to know about cryptocurrency that led him to invest without having the basic knowledge of where he was putting his money? I think even in real business where you invest in somewhere like a shop, buying goods to keep, and other things require knowledge before starting, so I'm really surprised when your friend invested in cryptocurrency without the knowledge.

However, even the bitcoin we advise people to invest in doesn't guarantee them that they should just go ahead and invest; they must have knowledge about it before investing. But he went and invested in shitcoins. He is not blaming himself for the mistake he made now that the market isn't moving the way he wanted it to, and instead, he is talking about quiting. I quiting will be better for him because he is not yet prepared to learn how the cryptocurrency market operates, he may comeback when his ready to do the real investment in order to learn.

[Fuso.hp]

Why did your friend invest in other tokens to have so many reliable coins in cryptocurrency? It means that your friend has very little knowledge about investments. How did he invest with this little knowledge? Since you are already familiar with cryptocurrencies, your friend should have discussed the investment with you before investing. You would have given him no wrong advice and you would have advised him to avoid investing in other's tokens and invest in reliable coins that are available in the market. In this case, the safest platform for your friend to invest in is Bitcoin. If your friend had invested in Bitcoin he would have never lost his money and would have made a good amount of money today if he had invested at the time you mentioned.

[knowngunman]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

It's obvious that your friend lacks know on crypto currency and it works. For comparing crypto with gambling justifies that he invested blindly without seeking proper knowledge necessary before venturing into crypto investment. I feel sorry for him but that is what you get when you invest in Shitcoins. That thousand of dollars will actually acquire your friend a reasonable portion of bitcoin which with time will fetch your friend a convincing profit.

Remember, gambling is not an investment and should not be considered as one. It should not be an option for your friend after he thinks crypto failed him due to his own negligence to research before investing. If crypto seems to not work for him, he should attempts to invest in physical properties like real estate, gold and some countless other investments.

[cryptoaddictchie]

If what you want is an easy money then you definitely get lazy if youre experience a loss in crypto. The best example of this is your friend. I bet he bought during the bull market when all the tokens and coins are pumping expecting to make some profits but when the market turns bad and go bear he curse it due to a very big loss. I myself got caught with that and have some down fall now. But thats because we dont know what will be the outcome of the market. If you sell at a loss definitely youll curse it.

[Lucius]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
~snip~

What is perhaps the most important thing in this story is that you cannot lose thousands of $ if you do not have them, and your friend, like many others, obviously does not have this problem. I have met many people who wanted to invest in cryptocurrencies, but luckily for them they never had enough money for a serious investment, and considering all the projects they had in mind that failed, everything turned out great for them.

What I want to say is that some people learn the easy way, and some the hard way, and some people are just lucky at a certain moment and don't make a wrong step. Those who are aware of the risks of such investments should warn others whenever possible, and sometimes even banks that block clients from investing in cryptocurrencies make sense, because they actually save many naive clients from losing their money.

[tabas]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Your friend has to understand that every investment is like a gamble. You'll have no idea how it's going to perform and that's why it's best to stick to the best in the market. I'll take a guess that he has invested to shitcoins and meme coins and that's why he's like cursing the market now because it didn't do any good to him. Tell your conclusion to your friend so that he'll realize that he's not just going to sway wherever the crowd is going and just like with the craze of meme coins, he won't be the one to ride the hype because it's proven that they don't last long.

[Jawhead999]

Anything isn't for lazy people, not only crypto.

When someone is lazy and don't want to learn before making the next move, they have a high chance for making a wrong step rather than the experienced and someone who already learn a lot.

I see your friend character is someone who give up after making a wrong decision, even though crypto isn't gambling, but let him alone with his decision. Such kind people will always regret what he have done and not want to learn.

[Ojima-ojo]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

You friend conclusion on his first cryptocurrency attempt of it being gambling is RIGHT,  because he invested in a shitcoin/token because most of the token are either failed projects or pump and dumped.


Because most of the token are dumped by the project team on investors making them to record almost 100% lose just like losing a bet in gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

Yes knowledge is the first foundation to understanding what cryptocurrency is and how to go about it investment and manage the risk associated with if, because without knowledge,  one can take a scam investment to be cryptocurrency investment mean while it a scam.


Jus like the various Ponzi scams that parade themselves as cryptocurrency investments.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

There is no free lunch anywhere and for one to be able to guide himself from all the risk and mistakes that are involved in cryptocurrency investments,  then there is a need for continuous learning and building of new knowledge and skills.

[Distinctin]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

But people have different mindset when it comes to crypto. And worst of it is that those who come to crypto these days have no knowledge or experience in investing, as they only have greed towards quick profits. And greed will eventually lead to a failure investment. However, for some responsible investors, they chose to educate theirselves first before they enter crypto long term investing. And they profit not because of greed, but because of their determination and endurance to succeed in the end.

[lovesmayfamilis]

I am always interested in the thinking of people who think that it is enough to simply increase capital if you invest a certain amount in the development of a project. Do these people consider themselves smarter or more cunning than everyone else? If it were all that easy, we'd probably all be millionaires by now. In the same way, it is surprising that a person who has a decent amount, without understanding the product, blindly trusts him. Doesn't his money come to him hard? There are thousands of questions, but as long as such naive people exist, scammers will develop their scams. I don't feel sorry for those investors; there should always be a rule: check a hundred times and trust once.

[SOKO-DEKE]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

What almost causes instant losses in the cryptocurrency industry is the eagerness of someone who wants to make it easily in the crypto sector. Due to their eagerness to make quick money, they became blind and invested in any project that was pumping at that particular time or the project they see some set of people are investing the period that time without conduct their own research.

When your friend just went ahead and invested in shitcoin, what did he expect? I may say that maybe your friend thinks it can make it easy from the token, as some people are saying that the easiest way to make money in the crypto industry is through altcoins. That may be true, but know that altcoins are just a form of gambling, and the risk is always high. If someone takes his or her time to study cryptocurrency, they will easily understand that Bitcoin is the best crypto investment worth making.

But let us know that knowledge is the key to success in any aspect of life, especially business or investment; proper knowledge always needs to point us in the right direction and always help us minimize our risk, especially in the cryptocurrency industry.

[nelson4lov]

Crypto is not a get-rich scheme and Crypto might not be for everyone. Maybe your friend got a bad orientation and put more than he could afford to lose not in Bitcoin, ETH or a high-cap token but in a shitcoin. He took a huge risk without doing enough research. Risks are good in crypto but only well-thought-out ones seem to pan out well in crypto in the long run. The same way shitcoins can give insane gains is the same way they can take it all back and even take a huge chunk out of your capital that's why caution needs to be applied at all times and why the phrase "Do your own research" and Due Diligence is really popular around here.

[sheenshane]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

I tend to agree with this and that's why many people when experiencing failure will easily quit because in fact from the start they didn't know technically about Bitcoin or crypto in general.  Crypto transactions rely on blockchain technology, which is generally considered secure, but the security of individual accounts and wallets is a concern.  Hacking incidents, phishing attacks, and thefts of cryptocurrency have occurred, leading to the loss of their crypto as OP said.  If proper security measures are not implemented, many of those new in the crypto space may become targets for cybercriminals.

So it's most important to be knowledgeable in the crypto space before investing in it.

[CryptopreneurBrainboss]

Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

At times boring businesses and investment are the best investment. Deciding to be lazy might actually help you as it'll shield you away from all the distraction in the industry. You could just invest in Bitcoin and you'll make decent profits than investing in altcoins. They're so many altcoins that's hard to guess which one will succeed but when you choose Bitcoin, you're investing in the one and only project that's reliable. Bitcoin is trustworthy and has many possiblity of making you richer than you were when you invested in Bitcoin. Even when the market crashes, your investment in Bitcoin has hopes of a possible recovery in the future.

Crypto investment only goes wrong for them because they decided to believe some random dude on the internet (CEOs of those altcoins project) promising them returns that aren't visible at the end of the day because the altcoins market is filled of similar projects giving people fake hope of making profits when they invest in them. Just because few altcoins were successful does mean every project out there are worthy of your investment. We have to learn toet go of some supposedly life changing opportunity and invest in the boring ones as those usually has longevity.

[ImThour]

It all depends on the person's mindset. Why it's not for lazy people? I know people who were too lazy to sell in the Bitcoin bear market and they continued to buy instead of selling and now they all are in massive profits versus those who were too active and kept buying/selling on every single news out there and are in loss. You do not have to react to any news you hear on Twitter or YouTube. Bitcoin is meant to be for HODLers, not for traders.

So that makes it the best option for Lazy people and your conclusion goes straight wrong.

[Asuspawer09]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

I mean that is why we have this forum you could start here in the forum where you could learn and enhance your knowledge to get ready on starting your journey with Bitcoin or cryptocurrency, If you don't think you do not have enough knowledge, learn more here in the forum, I think if you already think that you have the knowledge to start investing and you already have enough money to start investing, I think it's the right time that you should start investing in cryptocurrency. Everything is not going to go well that's for sure but you lower your risk since you have knowledge and know what your doing plus you could always ask for other members' advice here in the forum. Make sure to not repeat the mistakes of others here in the forum.

The market is so volatile so you're gonna need a lot of patients on your investment journey, your really gonna need to put in your time and effort if you want to invest and take a profit in just a short amount of time, especially if you're going to invest on altcoins since its a riskier choice than bitcoin or other blue chips cryptocurrency, but if your going for long term on Blue chips crypto like Bitcoin you could just watch the movement of the market.

[nakamura12]

That's the mistake your friend make as he didn't make research about the token ge just invested and your friend is also lazy to give some time familiarize the crypto. There's a part to blame for the one who taught your friend about Cryptocurrency for not making him learn about Cryptocurrency and why investing in a token is not 100% safe or profitable. Most token nowadays are shitcoins that's why your friend loses thousands of dollars. If he didn't accept some advice then it's his fault alone that he loses that amount of money.

[Mpamaegbu]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

This is the part most noobs in this industry don't want to listen to. They think coming into cryptos is a shortcut to wealth. That once they invest in any type of coin it's enough to turn into a "Bitcoin" overnight. Most of these ones erroneously opine that those who've been in this game but haven't hit it big aren't doing the right thing. They quickly forget (perhaps they don't even know this) that there's no certainty when it comes to cryptos. Nothing is guaranteed. Luck is the ultimate card. Though one has to take that luck far by investing in a seemingly credible coin first. No investment, no luck.

[Gallar]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

In my opinion you could say your friend lost by his own actions and after the loss your friend doesn't want to accept the loss. Why can I think like that. That's because it seems like your friend is not scientifically prepared or knowledgeable when he wants to invest in crypto. That way, your friends don't know which crypto assets are better and of higher quality to serve as investment assets. Second, your friends don't learn or don't know about the risk factors that must be prepared to face when the worst happens. That way when a loss approaches, your friend will definitely be very shocked and surprised.
Because when carrying out this crypto investment, there may be no thought of being prepared for the worst possibility or experiencing a loss. So it's certain, with this incident, your friend's view of crypto will definitely turn negative and be traumatized to invest again.

And comparing crypto investment to gambling, in my opinion, is not the right thing. Because gambling with crypto investment is clearly something different. In fact, I have an opinion, that when someone invests in crypto, and that person does not have good knowledge in that field. The possible loss will be greater than gambling. So that's the danger when plunging into a field that has not been well studied.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

It's true because in the crypto world there will definitely be knowledge or knowledge that is mandatory for investors to learn. And it's not just about being lazy. If you are struggling in the crypto world, you have to be a more patient person. Because sometimes if you can't be patient in investing in crypto, you will usually tend to lose. So in essence, being willing to learn, and being patient in investing in crypto is a must-have capital.

[lionheart78]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

This is the sad reality.  Many people are haste to jump in a "promised opportunity" without looking at the background of the people behind the project.  Naive people often guided by greed reason why many of them got scammed even though the scam tag itself is clearly attached to that company/project.  Then after they are scammed due to their careless action, they will then blame the whole cryptocurrency industry as scam and investing in it is very likely a gamble which we know is not true.

If they do thorough research and investigation they will likely end up avoiding these scam projects that use cryptocurrency popularity to attract users.  Also, they will end up with legit a cryptocurrency such as Bitcoin and see the difference between these scam projects pretending to be cryptocurrency and the legit one like Bitcoin.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

True that!  Cryptocurrency is for people who give time to research and comparison.  Aside from not being lazy, cryptocurrency is for the brave who have great logical thinking that can assess and verify scam projects by having enough knowledge about the industry.

[ultrloa]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Let him/her do what he want since in the end crypto is not for all and maybe he just came there because he was hype that he can earn a lot of money because he read a lot of positive bitcoin or crypto stories online. The problem there is he forget about the risk that's the reason he lost a lot of money for the investment he do.

Maybe that's a lesson where he/she needs to learn and now he know that crypto is not so easy as they think so maybe next time they should do more research before they enter crypto investment.

[Porfirii]

Most people here think that hard work and research will assure profits in the mid term, but IMO chance plays a fundamental role not only in trading (take it for granted) but even if you simply hodl too.

Of course, I'm the first one interested here in the rise of Bitcoin, but being aware of my subjectivity is crucial to limit my expectations to a reasonable level.

[sokani]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

A friend of maybe used to say that crypto investment is not for the feeble, you need to have some balls and same with gambling. That being said, I think your friend failed to do proper due diligence, and it's very likely he invested in one of those shitty altcoin projects or meme coins out there that pumped for a while and dumped.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

Crypto knowledge is essential. Taking the 'almighty Bitcoin' for instance, before investing it is still required that you have a good knowledge of the market, know when to buy and when to sell. Everyone wants to buy during the bear and sell in the bull season, and not the other way around. A little research and reading could have saved him from all this, It's a pity he learnt the hard way.

[topbitcoin]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

I think he entered the market because he was lured by other people's profits from crypto investment so he was very brave to spend his money in crypto market without knowledge and understanding, I really regret what your friend did it was carelessness, because no one is watching him, instead- else he wants to be as stylish as he is winning at gambling after investing in crypto.

Do you know what coins or tokens he bought to lose thousands of dollars as he says? I think it's an altcoin rather a memecoin, which one usually loses quickly if one is not really good at token hype trading.

[palle11]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Don't invest in low quality coins. Some coins are not able to generate good volume because they don't have large community but because they are cheap you see people investing in them. Shit coins don't bring you smile but regret. So becareful and invest on valuable coins like bitcoin. With bitcoin you can get more value for your money than keeping the lots of shit in your wallet because you feel they will bring you returns with the speed of lightening.

[Apocollapse]

Crypto can go wrong because they're not understand with the coin they've invested because they only looking for money. This is definitely wrong because it has a high chance he will buy shitcoins due to crazy volatility and they hold in a centralized exchange due to minimizing the fee.

If people are only invest in Bitcoin, not greedy and know how to safely hold their coins, they would be 99% safe.

[Zanab247]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

 crypto investment is profitable when you have the knowledge before going into it, but if you don't have the idea you will always end up like that your friend that loses thousand of dollars.

It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling?

cryptocurrency investment is different from gambling because, if you don't know when to buy cryptocurrency and sell, you will find it difficult to make a good profits like other potential cryptocurrency investors because they buy cryptocurrency when the price is low in the market and sell when the price is high.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

lazy people always find it difficult to earn well from cryptocurrency investment, because they find it difficult to carry out their personal research to know more about the current market price. It hard for lazy people to endure long term holding because they always have things to solve that will make them sell in a low price.

[Ndabagi01]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

This is what you should anticipate if you invest in shitcoins rather than bitcoin. When people hear about bitcoin, they imagine it is a quick money generating scheme that anyone can profit from and earn enormous amounts of money. But few of those people are aware of the ramifications of their conduct. Since they are all referred to as cryptocurrencies in general, the emergence of various altcoins (shitcoins) in particular has badly harmed the reputation of bitcoin.

Most of them enter the market to exist for a short time and then exit into the blue space after duping many individuals and favouring a few. The few ones favoured are now disseminating the pleasant news about a coin that may be earned quietly and has already tricked many people.

Bitcoin is the most secure, and you may be confident that your investment will profit in the long term. Every other coin, in comparison to bitcoin, does not have the same potential due to its centralised nature. If you must invest in a coin other than bitcoin, extensive research and understanding of that coin is critical in order to avoid unanticipated outcomes that could devastate your entire financial life. 

[ItsCrafty]

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

Cryptocurrency may go wrong for some people if they don't understand the technology behind it and make poor decisions based on speculation or emotions. Many people invest without doing research on the risks involved, and some also spend their entire investment in one crypto, which is quite risky. I think some other factors that require your attention are market volatility, a lack of risk analysis, etc.
Overall, investing in cryptocurrencies can be fairly profitable, but it's crucial to conduct your research and exercise caution to protect your money.

[Mate2237]

The matter what you can't compare cryptocurrency investment with trading. Investment is just a time and it needs a lot of patient, but gambling is not patient but luck. If your friend understood investment before going into, he wouldn't loss but probably he was in hurry to make money and investment does not work in that way. The best way to invest in cryptocurrency is to buy and store and forget the funds and do other things to survive yourself.

[Kalam001]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Cryptocurrency trading is superior to gambling but similar to it in such a way that you can never win or make money from gambling because any gains you think you might have made from gambling will be lost in one way or another if you keep gambling. Additionally, these days, there is no real team or club that can guarantee you of winning most of the time; even the big clubs/teams or those that you expect much from will make you lose.
In terms of how gambling and cryptocurrencies are related, someone who is not well-versed in cryptocurrencies is likely to lose even more money than a gambler since they lack the focus and capacity to carry out certain tasks when trading or investing.

[BIT-BENDER]

Well the truth is that crypto-currency is volatile and just because a coin has dropped in value doesn't mean all has gone wrong on that coin, being a long term holder is actually a good option it can help you understand the coin you holding better and help you make the better decisions.

But honestly what I do I try to focus more on Bitcoin, it's my favorite coin because there is a huge sense of positivity from Bitcoin that can't be gotten from altcoins. It has the largest market cap and it's widely used.

[Aikidoka]

Investing in crypto isn't gambling; it requires thorough research before an investor gets involved. There's a lot to learn and experience before starting to make a profit from it. It's not as easy as many people think, where you can simply invest and walk away with a profit. It doesn't work like that. In fact, it requires experience, wisdom and the ability to buy and sell at the right timing.

Many newbies mistakenly believe that investing in crypto is similar to gambling, which is incorrect. Gambling is often even riskier than investing and trading with crypto. This is because gambling heavily relies on luck, especially for games that are not based on real-life events.

[Kasabus]

Crypto maybe good or bad, useful or futile, it depends actually on how you will perform crypto in your life. Some have been successful because they follow the potentials of crypto as an investment and take risk in investing, while others have been regretting because of missed opportunities and losses, simply because they use crypto the wrong way and they deal crypto with greed and high emotions, things that will ruin the essence and purpose of crypto.

[kawetsriyanto]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Do you not ask/invite him to invest in crypto, right?
If he invests of his own will, he must evaluate himself why he can fail. But if you invite him to invest, it is  your responsibility to guide him.

I agree that the reason of his failure seems about lack of knowledge.
It is very unfortunate that many people think crypto investment is an easy way to rich. They don't understand that crypto investment is very risky and requires good knowledge. We also need to have a strong mentality when we decide to invest in crypto because there are too many unpredictable things happening. Sometimes the prices move not as expected, or we hear too much FUDs around. It is all the challenging in crypo investment, many people don't understand this.

[Vaculin]

Simply because they don’t understand the real purpose and essence of crypto in our future. Most especially for bitcoin as it’s the most prominent crypto in the market. And while others are focused on investing and make the best for profiting, some have been easily discouraged with first losses and so they quit from crypto investing and resort into gambling thinking that it will offer them bigger opportunities to earn and make profits. Well, one cannot learn if they won’t experience losses in gambling as losses are more inevitable in gambling than when investing.

[rby]

Simply because they don’t understand the real purpose and essence of crypto in our future. Most especially for bitcoin as it’s the most prominent crypto in the market. And while others are focused on investing and make the best for profiting, some have been easily discouraged with first losses and so they quit from crypto investing and resort into gambling thinking that it will offer them bigger opportunities to earn and make profits. Well, one cannot learn if they won’t experience losses in gambling as losses are more inevitable in gambling than when investing.

It is expected that every genuine newbie in cryptocurrency will make newbie mistakes. On a norms such mistakes would have been avoided but due to the pre conceived goals of the newbies, they do not control their emotion. They also tend to invest more than they should.
If their investments is in bitcoin, there won't be much problem because they only lose when they sell. But this cannot be said of some altcoins and shit coins which touches a new ATH once and never return to it.

The remedy to this abnormalities is to enter the cryptocurrency industry without the preconception of get rich quick mentality. Another option is to limit the level of risk they take by not gambling with too many shit coins. You can only do that when you understand how the market works and not when you are just a novice.

[Finestream]

Well the truth is that crypto-currency is volatile and just because a coin has dropped in value doesn't mean all has gone wrong on that coin, being a long term holder is actually a good option it can help you understand the coin you holding better and help you make the better decisions.

But honestly what I do I try to focus more on Bitcoin, it's my favorite coin because there is a huge sense of positivity from Bitcoin that can't be gotten from altcoins. It has the largest market cap and it's widely used.

Bitcoin is far more profitable than any other crypto coin, or even when compared to different life’s investments as well. However, investing in crypto is never easy and that you can’t just invest and expect for quick profits. With bitcoin’s high volatility, if you are investing because of greed, then this type of investment will never work on you. That’s mostly the case why these failed investors turn into gambling expecting that it will give them instant and huge returns, when in reality gambling is the worst nightmare once they are totally highly addicted on it. The thoughts that gambling will make you rich in an instant, I guess seeing you homeless in the future might be the exact thing to happen.

[Z390]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

It's fine that he believes crypto is like gambling, but why one token anyway? If crypto is a gambling and you fail then you gambled wrongly,  if it's gambling then treat it like a true gambling and diversify your money, it's possible for any altcoin to die at any time but if you have over invested into the token all your money will be done. It's better to avoid putting your eggs in a single basket, find more than five altcoins and watch what will happen, I have never heard or read where someone invested in 5 altcoins and all the five projects turned to scam, you need to do your own research and invest in good altcoins, not one, not two but more.

A simple 10x from a single alt will cover for the failed ones.

[m2017]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

What token did your friend invest in?

If you are lucky, then this token may still grow in price (there is a probability, but not that big) and at least your friend will not be at a loss or even earn something. It is difficult to predict and it is impossible to foresee what will actually happen. But playing with tokens is riskier if your friend just bought bitcoin or altcoins from top-10 / 20.

In a way, it's true that investing in cryptocurrencies is like gambling. More often than not, choosing the right crypo (or token) is a matter of luck.

In my opinion, cryptocurrencies should be treated like investing in the stock market in technology companies, with careful analysis and study of the background of the project.

About the conclusion.
Not only cryptocurrencies, but any investment in general is not for the lazy. Such people treat investing like gambling, as a result, they choose projects for good luck and turn from lazy to poor.

[isaac_clarke22]

It's fine that he believes crypto is like gambling, but why one token anyway? If crypto is a gambling and you fail then you gambled wrongly,  if it's gambling then treat it like a true gambling and diversify your money, it's possible for any altcoin to die at any time but if you have over invested into the token all your money will be done. It's better to avoid putting your eggs in a single basket, find more than five altcoins and watch what will happen, I have never heard or read where someone invested in 5 altcoins and all the five projects turned to scam, you need to do your own research and invest in good altcoins, not one, not two but more.

A simple 10x from a single alt will cover for the failed ones.

Unless it's Bitcoin then I would not just invest to that token solely. I had invested in ETH before and held it for a certain amount of years which is not really what I normally do.

It still depend on what are those 5 altcoins that the person invested. It's even likely that those are just scams if it was during ICO days back in 2017. Investing to 5 altcoins would be an insane for me these days.

Investing in crypto isn't gambling; it requires thorough research before an investor gets involved. There's a lot to learn and experience before starting to make a profit from it. It's not as easy as many people think, where you can simply invest and walk away with a profit. It doesn't work like that. In fact, it requires experience, wisdom and the ability to buy and sell at the right timing.

Many newbies mistakenly believe that investing in crypto is similar to gambling, which is incorrect. Gambling is often even riskier than investing and trading with crypto. This is because gambling heavily relies on luck, especially for games that are not based on real-life events.

It is but not in the way like those casinos. In casinos, you'll lose your whole chips if you lose obviously, but here, you might still be able to get away with stop loss depending on your situation. As long as you risk something that might not pay off, it's technically still gambling.

[Questat]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

I can just imagine that your friend had fallen into scammy projects and had fallen into tricks that usually scammer do (promise high rewards). This is probably going to happen to anyone that has no knowledge about the project they invested in. Many people suffer losses because of believing in attractive offers and I see your friend as a victim of such a thing. Quitting would be a good decision for him. Might he come back but must be sure that he is investing not in tokens but in Bitcoin and those projects that already show success, not just a promise.

[icalical]

This is not unique to crypto investment, everyone who don't want to do their own research putting their money recklessly on just anything other people feed them will end up like your friend, doesn't matter what investment they are into. And I think it's good that he decided to quit crypto, crypto is not for someone who doesn't want to learn.

[Peanutswar]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

If your friend goes into a shitcoins or the altcoins that they think will bring them a huge amount of profit if you are lucky enough its good but not most of the time it happens most of the shitcoins getting rug or can be honeypot at the end its your losses If you want to make an investment with the crypto why not it the coins who makes already a good reputation and profit in the end. Another thing is before going to the crypto you need to make sure you have a basic understanding, prior knowledge, and proper execution of the position of your investments. If not that's the time you seems like doing crypto in a gambling way that expecting to win.

[AakZaki]

Log in on an investment platform but without that investment knowledge. it's a fool with a lot of money to just lose for nothing. thousands of dollars is certainly a lot of money, if they lose thousands of dollars in crypto without any knowledge of crypto it is their own fault. not because a crypto platform is risky. all investment platforms even need to do research before investing money. because we know how the risk of each investment that will be made.

[Fullcoinese]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

this is why it is very important not to rush and carelessly place our money to invest. at least we must have basic knowledge about investing and researching something we want to invest in.
i wonder why there are still people who invest but don't want to do research first and when they lose their money because of their ignorance they will blame the investment instrument.

Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

it is absolutely true that investing is not a quick way to earn profits instantly, it takes time and if we invest without having knowledge and doing research it is a careless and bad act.

[Japinat]

Simply because they don’t do their due diligence to learn and just enter the crypto market without prior knowledge but with only greed that keeps motivating them to invest. That way, they will never be successful in crypto investment. We all have human greed actually but we should know when to avoid it and when to be greedy when everyone else has became fearful. Because that greed could either break us or keep us more wanting about crypto and its potentials.

[Maslate]

Crypto is not a get-rich scheme and Crypto might not be for everyone. Maybe your friend got a bad orientation and put more than he could afford to lose not in Bitcoin, ETH or a high-cap token but in a shitcoin. He took a huge risk without doing enough research. Risks are good in crypto but only well-thought-out ones seem to pan out well in crypto in the long run. The same way shitcoins can give insane gains is the same way they can take it all back and even take a huge chunk out of your capital that's why caution needs to be applied at all times and why the phrase "Do your own research" and Due Diligence is really popular around here.

The reality is people will never go wrong in any form of investment or trading career as long as he prepare for it and create long term plan before taking such risk entering the crypto market. And there will never be  too much losses if one invest or trade with knowledge and experience, as only those who only came in the market just for quick profits experience high risk of losing and end up quitting with a huge loss.

[Adams0001]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

That is why, before you undertake anything in life, you should learn about it or conduct study so that you can deal with whatever comes up. Crypto is not something you should just invest on; you need do some research on it and the risks associated.

Anything in which you put your money is gambling. Either you make or lose money. In that sense, it is gambling. However, it is critical that you understand the project into which you are investing. Similar to stocks, you invest in firms in order to earn high profits. The premise is the same, but the crypto market is significantly more volatile and has produced several billionaires.

[Nwada001]

The reality is people will never go wrong in any form of investment or trading career as long as he prepare for it and create long term plan before taking such risk entering the crypto market. And there will never be  too much losses if one invest or trade with knowledge and experience, as only those who only came in the market just for quick profits experience high risk of losing and end up quitting with a huge loss.

This is not applicable to all forms of investment; so far as crypto currency is concerned, there are some forms of investment that can completely be the wrong choice, even when one maps out a long-term risk management plan. Sometimes the long time is even what makes it more risky, aside from an asset like Bitcoin, which for now has proven solid and otherwise. There is no guarantee that every other altcoin's investment will turn out positively in the years to come.

There are some altcoins that are out there that we never see any sign of failure in; in fact, all one can see is great potential and a plan to hold those for a long time, but as time goes on, we happen to see a negative result from them, which is either the team rug pull, the project lack in developing their product, or some kind of exploitation that might happen, which will bring the price of the coin or token to zero. We can use the case of Luna, propel, FTT, which is the native token for the FXT exchange, and many others that have gone down in the past and that people see as safe investments that are worth holding for the long term.

[Sandra_hakeem]

Hahahaha....
How do you say a man is lazy cus he wasn't able to read up on things he should've known before getting indulged, with such a huge amount of cash?? The word's ambiguity doesn't connot the real sense in there...take note.
On the other hand, maybe the dude thought it's some sort of Ponzi he could possibly pull a stunt on.. maybe he was also hoping to abscond with much more profits - exactly, that's what everyone wants, but it all depends on the motives now.... If you're actually learned in crypto, you'll realize that you don't have to rush over what you ALREADY have... But he went in with selfishness and that prompted his MEGA investment wreckage.

Sandra 🧑‍🦰

[Bushdark]

Hahahaha....
How do you say a man is lazy cus he wasn't able to read up on things he should've known before getting indulged, with such a huge amount of cash?? The word's ambiguity doesn't connot the real sense in there...take note.
On the other hand, maybe the dude thought it's some sort of Ponzi he could possibly pull a stunt on.. maybe he was also hoping to abscond with much more profits - exactly, that's what everyone wants, but it all depends on the motives now.... If you're actually learned in crypto, you'll realize that you don't have to rush over what you ALREADY have... But he went in with selfishness and that prompted his MEGA investment wreckage.

Sandra 🧑‍🦰

Yes that can be termed as laziness because he was nit ready to learn the art of investing in the right coin and simply jumped on investing in altcoins because of the urge to make quick money from investing. It is very wrong of us if we make decisions without have to scrupulously do our own research or ask questions about the step we want to take in investing in cryptocurrency.

There are bad and scam projects in the crypto market that can make us to lose a lot of money if we are not prepared to do the necessary things before we think of investing in cryptocurrency projects. Those that had became a victim of many of these scam and rug pull projects will understand that there is nothing like earning fast money in cryptocurrency.

When we take too much risks, we can earn up losing big because of the level of risks we are taking. The same also work of we become fortunate to have invested in a good coin project that finally got launched and give us crazy profits that we never expected. Every step we take as a trade need to be weighed or else we might be taking too much risk that can collapse our interest in investing after losing big in the market.

[Onyeeze]

It is not only in cryptocurrency that such affects,  it also affects ordinary businesses too but what I want you to understand is that  Bitcoin investment and altcoins investment are two different investment in cryptocurrency because they have different reputation, bitcoin investment may yield good for you this season why altcoins investment may be nice to another person depends the time used for the investment, only thing in cryptocurrency investment is that you will be engaged for the investment to know the next move in the market

[landheer]

Investing in crypto is of course very high risk, so before investing in crypto, many people suggest seeking knowledge about crypto first.

yes, indeed many people lose in crypto and eventually give up and don't invest in crypto anymore, but for great people, of course, they always learn from experience with the aim of not getting losses in the future.

So what should be prioritized is knowledge first.

[Timmzzy]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

am picking out this WORD i marked with red yeah ENDURANCE, this reminds me when i started back 2017, seeing how people make money through bitcointalk, i started asking questions and also getting good answers to those questions, and the most amazing side was how money is been made from AIRDROPS AND BOUNTY, gradually i keep learning and enduring, today crypto has change my life for good...

[superman184]

Investing in crypto is of course very high risk, so before investing in crypto, many people suggest seeking knowledge about crypto first.

yes, indeed many people lose in crypto and eventually give up and don't invest in crypto anymore, but for great people, of course, they always learn from experience with the aim of not getting losses in the future.

So what should be prioritized is knowledge first.

Pretty good advice, but it would be even better if you would share a little bit of investment knowledge that you have known so far for OP. Because now investment has been seen as a very common job among the people so that anyone can do it as long as he has clearer directions and goals. I say that because apart from having to have knowledge and capital specifically for investment, someone who wants to invest must also have enough time and patience to be able to reap benefits through what he invests.

[lienfaye]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Your friend chose to invest in a token instead of the well-established coins. So it's not surprising if he lost his money due to his wrong decision. This is the problem of investors who thought investing in shitcoin can give them huge and quick profit. If only he conduct his own research before investing, then this can be prevented to happen.

Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Exactly. We all want to earn as early as possible but sometimes it really takes time before we can see the result of our investment. That's why it's important to understand everything before deciding to invest your hard-earned money.

[YUriy1991]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

I think the conclusions you have written are very clear on where to go. Yes. Investment is not like people who traditionally look for gold, open one hole and switch to another if it is empty. This means that we also take into account operational or investment costs that we have planted, don't shoot blind without a solid foundation and this is where the assumption was born and became the talk of what they will invest. Because the goal of investment in the end is to take profit, not even a loss.

[michellee]

When you say your friend is investing in tokens, it means he bought the wrong tokens so he can't get the profit he wants. This is the mistake of people who can't find the right coin because they are tempted by what the project team has to say.

If your friend can choose only Bitcoin as an investment, of course, he can see the progress of his investment from time to time. He could also have a chance to earn big profits from Bitcoin in the future. That is why it is more difficult to choose an altcoin than Bitcoin because many altcoins tempt them to buy and invest their money.

To invest in crypto, you should research to find the right coin. And if they find it difficult to find coins, they can choose Bitcoin as their investment and not invest in altcoins. It would be better for him so he could avoid losing his investment.

[Myleschetty]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
[snip]

Despite crypto offers enormous benefits, it also comes with enormous hazards, which may be avoided if investors have the proper and sufficient information.
Your friend has thousands of dollars, but instead of investing them in Bitcoin, he chose a crypto (token) that is extremely volatile and subject to manipulation. Now, he blames crypto for the error he did due to his ignorance and greed.

[CryptoHeadlineNews]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Crypto is not a get-rich-quick scheme, of which whoever goes into crypto with such a mindset will always get disappointed due to the market's unpredictable nature and up-and-down price movement, which I guess that's the exact perception your friend would have had while investing, making him/her fall victim to  shitcoin or ICO who promises to offer high profit and yet very volatile, and the reason why it's always good to make concrete research about any stuff you intend to put your money into so that you don't fall a victim of the "had-I-known" set of people who always regret whenever a task don't go as planned.

[Razmirraz]

What you plant is what you pick, someone's success in crypto is not just achieved, there are many processes that must be passed in order to achieve the desired goals. Reckless capital alone is not enough in Crypto investment, thorough research is needed to understand how crypto works. Crypto cannot be compared to gambling, this assumption is often used by people based on limited information.

In crypto trading there is the term Hold, when the market is not supporting or again showing a decline you can wait until the price increases again. Whereas gambling is generally defined as holding on to something instantly based on instinct, even though these two activities carry the same risks, they take different paths.

[ancafe]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

Mistakes made by your friend for taking investment opportunities in shitcoin, so that in the end loses value to the investment and in the end blames crypto in general due to his incorrect knowledge. When you get involved in crypto the first step you need to know is what coin you want to invest in, not all coins are able to maintain value and most of the shitcoins are losing ground in the market. Continuous research and learning is really needed because we will see the need and accuracy in investment.

When you choose wrong investment, the chance to end up like your friend is very large, but when you are familiar with bitcoin and are calm in investing, then there is a great opportunity to make a profit instead of investing in shitcoin. Basically why do we experience losses in investments because we are wrong in choosing the best coin to invest.

[GeorgeJohn]

In cryptocurrency investment you have to learn and understand the the procedures before investing in Bitcoin because if you learn the necessary procedure i think you won't be able to understand exactly what is going on in cryptocurrency world, basically cryptocurrency is something you supposed digest the bases before investing on it, therefore you su know exactly what the rudiments of bitcoins before investing in Bitcoin.

[CryptopreneurBrainboss]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

What he was doing initially was Gambling, ask him what was his reason for investing in those tokens and watch him come up with some baseless reasons. Most coins on the market are like the token your friend invested into because they won't last and they'll make investors lose millions of dollars. Crypto goes wrong for you because you invested wrongly. People have been singing here for so long that we shouldn't invest if we don't understand and only buy Bitcoin for protection against all the scams in the market but the new investors we have in the industry that claims they know it all and keep ignoring those advises.

As for your friend, why didn't he seek advise before investing, if he did he won't be in this situation. Crypto and Bitcoin most specifically has made lots of people wealthy, it can also make you wealthy if you're not greedy and decide to accumulate bitcoin while the market is down with focus on the future. Bitcoin is going to be trading at a $1 million in the future and then many millionaires will be produced. If you want to be among those millionaires, start investing in Bitcoin and ignore all this altcoins claiming to be solving a problem they know nothing about.

[petulino]

In cryptocurrency investment you have to learn and understand the the procedures before investing in Bitcoin because if you learn the necessary procedure i think you won't be able to understand exactly what is going on in cryptocurrency world, basically cryptocurrency is something you supposed digest the bases before investing on it, therefore you su know exactly what the rudiments of bitcoins before investing in Bitcoin.

I think his friend instead of investing in Bitcoin invested in a token he had no knowledge about. There are many coins in the market at the moment, among them there are some whose value continues to fall after a few days of hype after being launched in the market. Therefore, without research and information, people end up throwing their money into coins that will never increase in value later on. Rather, their price keeps falling and people suffer a lot.

Investing in Bitcoin has a very low risk of loss as Bitcoin is the single most trusted crypto currency, but the condition is that your entry should be on time. Entry into any token at wrong time will lead to loss.

[Sovannar Sangha]

It is not only in cryptocurrency that such affects,  it also affects ordinary businesses too but what I want you to understand is that  Bitcoin investment and altcoins investment are two different investment in cryptocurrency because they have different reputation, bitcoin investment may yield good for you this season why altcoins investment may be nice to another person depends the time used for the investment, only thing in cryptocurrency investment is that you will be engaged for the investment to know the next move in the market

Very relevant. True, the two investments are different. BTC is a very potential of course. But, for beginners, don't go in first, at least you need to study first so you don't fail to understand. If you already understand and have excess funds that are not used, then go to others. otherwise, the principle of BTC investment which is the concept of a long-term pattern will change by itself. That's what I am and I'm still very young here (Newbie)

[Obari]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Funny enough, one of the most lazy jobs to do, is crypto investment  because it doesn't actually require any physical  strength but rather mental smartness and I will rather say that crypto investment is fir the smart ones because I've seen people who are seen and known as lazy also succeeding very fine in cryptocurrency industry.
I'm sure you already known that every investor's expectations is to make profit and when the profit  isn't coming, there are greater chances of such a person giving up easily especially  when the profits are already outweighed by the losses.

I've always been on the opinion that it is necessary  to have money while embarking on a crypto journey so as not to miss out of the better opportunities that comes with the season especially  when you Intend holding for a long while but that doesn't mean you should be reckless with the money you have while learning.

[landheer]

Investing in crypto is not an easy thing because investing in crypto requires extensive knowledge, so prior to investing in crypto knowledge must be prioritized because investing in crypto without priority knowledge will certainly have the potential to experience losses and ultimately blame crypto even though it's not the wrong crypto but people who invest in crypto don't understand what crypto is and how to invest in crypto the right way.

[Bitcoin_people]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

If your friend invested in a crypto coin that was identified as a scam. If faced with such a scam, he may have lost thousands of dollars. But I totally disagree with the argument he gave you because crypto has nothing to do with gambling. Gambling is basically a casino platform where people place bets to win their prizes and investments are held for a long time. But your friend may not understand investment or trading very well for which he lost all his money. Before investing a person must know good research and follow various aspects about the market and gain experience. I also agree with you that lazy people can never invest profitably, hard work and patience are important to be profitable.

[puloweh555]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

I think the main mistake of your friend is the lack of basic understanding of the way the project is running so he suffered a loss. He should have been more careful when investing in tokens. So many are disappointed investing in tokens, altcoins, and NFT that ultimately have no value anymore. because this project is popping up a lot, if we are not good at analyzing it is better to stay away. There are still many altcoins that are great assets to invest in safely, but even safer should your friends invest in bitcoins because this is a very wise choice.

But whatever it is, actually when we experience a loss it also has a good impact on us, because later we will be more aware when we want to do something for investment.

To be honest, I have lost from investing in altcoins and the amount is not bad for me, even though I don't like your friend's story it makes me more aware of how to manage money, and I believe that when we experience losses, the mindset can change, and when we hope for something big, the consequences are also big. Experience is created from failure but how do we take advantage of that failure not to fall a second time?

[mirakal]

Because not all people have the same faith when it comes to crypto. Some are just trying their luck and greed, and expect instant profits but when crypto fail them, they all end up accusing bitcoin as a big scam. While others have established faith in the first place, and continue to educate theirselves until they’re all ready to venture into bitcoin while expecting more losses at first but few gains. With this, we’ll know from their course of action who’s most likely to be successful and who’s not going to.

[kamvreto]

Because not all people have the same faith when it comes to crypto. Some are just trying their luck and greed, and expect instant profits but when crypto fail them, they all end up accusing bitcoin as a big scam. While others have established faith in the first place, and continue to educate theirselves until they’re all ready to venture into bitcoin while expecting more losses at first but few gains. With this, we’ll know from their course of action who’s most likely to be successful and who’s not going to.

It takes good initial knowledge about crypto so that those who think crypto is just a fraud can turn around and be interested in crypto. Ordinary people who try their luck with crypto and try to trade, but in the end it fails they don't really understand so when a loss is found they will say that crypto is not safe, full of risks etc. But for those who understand, of course crypto will provide benefits. In the end, those who succeed are those who believe in crypto and understand crypto. those who fail will make crypto a scapegoat that leads them to losses.

[Russlenat]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

The clear reason is that not all people have the same outlook on bitcoin. Some would only see it as short term profits and just here for investment purposes to satisfy their greed. However, for those who have deep understanding about bitcoin, they will always find ways to learn everything about bitcoin and value it’s utility case in the market. And when they’re ready to invest, they make sure that it will be a long term investment regardless if there will be inevitable losses along the way.

[Stable090]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

When you invest in token, then you might end up losing your money at the end, maybe your friend invested in shitcoin or altcoin which in you invest in shitcoin then your chances of losing money is really high. Lost of people have invested in altcoins before so after losing money they decided to tag cryptocurrency as a scam, but I do say most of those people are d cause of losing their money. If you are investing we should have it in mind that any altcoin investment is very risky and we have to be very careful when investing in it, if we are planning to invest, then the best thing we should do is just to invest in bitcoin. Any altcoin investment done is just like gambling, their is equal chances of winning and losing.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in.

Some people don’t care to learn about what they are going into, some of them are just too lazy to make research, and some are always depending on other people’s opinion (those are the once that are always giving signals, or the once that are always waiting for people to recommend the coin they will be investing in for them).

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

You can’t just start and you will be expecting money, if you are a trader and you are a beginner, you will always lose money instead of making money, but you don’t have to give up, you have to continue putting your effort and with time you will start making money and you will forget all the money you have lost, and the things you went through.

[Rockstarguy]

Because not all people have the same faith when it comes to crypto. Some are just trying their luck and greed, and expect instant profits but when crypto fail them, they all end up accusing bitcoin as a big scam. While others have established faith in the first place, and continue to educate theirselves until they’re all ready to venture into bitcoin while expecting more losses at first but few gains. With this, we’ll know from their course of action who’s most likely to be successful and who’s not going to.

It takes good initial knowledge about crypto so that those who think crypto is just a fraud can turn around and be interested in crypto. Ordinary people who try their luck with crypto and try to trade, but in the end it fails they don't really understand so when a loss is found they will say that crypto is not safe, full of risks etc. But for those who understand, of course crypto will provide benefits. In the end, those who succeed are those who believe in crypto and understand crypto. those who fail will make crypto a scapegoat that leads them to losses.

The problem most beginners always have is that they fail to make research, thinking all cryptocurrency is the same as Bitcoin and some beginners don't even have time to make research to know whether the cryptocurrency they are investing is good to start with for invest.  Beginners are just interested in making money from crypto and don't care to know how reliable it is to invest. Investing in cryptocurrency is not just having money to start but to have the knowledge if one is in the right investment.

[Ayebabara]

Cryptocurrency goes to the wrong way when a user of the coin mismanaged the coins. And also the way you use it will also determine the success story in your life. There is no way you cryptocurrency for gambling and you will come and tell me that you didn't mismanaged you coins. And there is no way you spend your coins for women and you will come and tell me that you didn't mismanaged your coins. My brother there are many things that can at up one bitcoin or cryptocurrency career.

[CageMabok]

Cryptocurrency goes to the wrong way when a user of the coin mismanaged the coins. And also the way you use it will also determine the success story in your life. There is no way you cryptocurrency for gambling and you will come and tell me that you didn't mismanaged you coins. And there is no way you spend your coins for women and you will come and tell me that you didn't mismanaged your coins. My brother there are many things that can at up one bitcoin or cryptocurrency career.

It's quite simple to understand this, because those who use it incorrectly will always end badly and will not get any profit from the coin. I think there is no need to think about those who are wrong in using coins because there are many good ways that you can use to make a profit through the coins that we each have. This is about how it is used only, not about an acknowledgment from someone in how he used the coin to get nothing.

[_BlackStar]

-snip-

It's quite simple to understand this, because those who use it incorrectly will always end badly and will not get any profit from the coin. I think there is no need to think about those who are wrong in using coins because there are many good ways that you can use to make a profit through the coins that we each have. This is about how it is used only, not about an acknowledgment from someone in how he used the coin to get nothing.

Simply put - each holder is the one responsible for managing their holdings. It doesn't matter how they spend their coins - whether they spend them on gambling or on something unprofitable. But this is a crypto use case that shouldn't be argued - but one that will definitely hurt from an investment perspective.

An investment is an investment - meaning you should never spend your investment assets on something else without a urgent need. If you want to spend crypto for a real use case - then buy another and spend it.

[Eureka_07]

<snip>
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

The reason is that they do not know what crypto really is in the first place. Probably, because of the hype that they witnessed, they thought that all crypto are the same ... that they can invest to any token that they want then expect profit from it. It is similar to why some newbies gets scammed to frauds related to crypto.

[Smartvirus]

Anything isn't for lazy people, not only crypto.

When someone is lazy and don't want to learn before making the next move, they have a high chance for making a wrong step rather than the experienced and someone who already learn a lot.

Good thing pointing that out.

I’ll like to say, someone who happens to be experienced is one that has failed many times and one who isn’t is one that has some rough ride up front.
I wouldn’t say your friend @OP is the lazy type, nope. He just had a bad choice of investments to have picked altcoins for his crypto investments without doing any proper findings on it or having a high expectancy of a failed potent on altcoins.

One thing that remains real and is very disappointing when people don’t realize it is that, it’s not a get rich scheme and there are those that are bound to enrich the others in this system. It’s just how it works and you just have to try not yo be amongst those losing to others.

I pity your friend for running off and that might be the best for him @OP because, you truly shouldn’t go in huge on that which you know nothing about.

[Rengga Jati]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

In my opinion, it's like there's a misperception going on, that most people probably think that crypto is the way to bring success faster, can bring very high profits very quickly, as they see with many people who are successful in crypto. What's more, they are people who like instant things, who are easily deceived by anything that promises fast money to come to them, while they don't want to make more efforts to explore and understand it. So, once they fall, they will easily drop and be disappointed with inappropriate results. moreover, we see how big the newbies involved are being scammed by scammers, there are so many. This is because they do not equip themselves with sufficient knowledge. And they believe too much in new things that they don't understand but promise very high profits.

[Lida93]

For crying out loud why should a crypto beginner start with alternative coins? People that do well with alts are those that have gotten a mastering of the market having an understanding of the pump and dumps of alts and not some random beginner who can't equally deal with bitcoin that's With a moderate volatility that newbies can easily learn with. And when I said easily, I literally mean bitcoin is 5x safer for  beginners to invest on than alts.

Despite how safer BTC could be, it's still beckon on you to learn a lot more before investing big amount and from what is obtained from the character of some beginners, they want to come in and start earning immediately without going through the basics. You will always pay with your penny when you refuse to give to learning first. It's as simple as that.

[boyptc]

It's quite simple to understand this, because those who use it incorrectly will always end badly and will not get any profit from the coin. I think there is no need to think about those who are wrong in using coins because there are many good ways that you can use to make a profit through the coins that we each have. This is about how it is used only, not about an acknowledgment from someone in how he used the coin to get nothing.

Right.

You don't need to approval of anyone if you're going to do it correctly. Mismanaging is gonna be dependent to the person who's holding. And if you're wrong with that, you have to analyze your mistake because eventually you have no one to blame but yourself if these mistakes come out.

We don't want nothing from these investments and that's why if there are people that have been unsuccessful on this venture, there must be something wrong with their decisions.

[kamvreto]

Because not all people have the same faith when it comes to crypto. Some are just trying their luck and greed, and expect instant profits but when crypto fail them, they all end up accusing bitcoin as a big scam. While others have established faith in the first place, and continue to educate theirselves until they’re all ready to venture into bitcoin while expecting more losses at first but few gains. With this, we’ll know from their course of action who’s most likely to be successful and who’s not going to.

The problem most beginners always have is that they fail to make research, thinking all cryptocurrency is the same as Bitcoin and some beginners don't even have time to make research to know whether the cryptocurrency they are investing is good to start with for invest.  Beginners are just interested in making money from crypto and don't care to know how reliable it is to invest. Investing in cryptocurrency is not just having money to start but to have the knowledge if one is in the right investment.

They only think about results, not a process or what could be the trigger to be able to produce. found the fact that many beginners do not know the basic science of trading and investing and they fail to do research. it will certainly have an impact on the investment or trade made. It's not just a matter of having money or not, it's useless if you have money but don't have the knowledge, then they just do everything with logic and according to their feelings. it just seems like guessing the price without any analysis. That is the reason why crypto will be a mistake for some people.

[YUriy1991]

Very often I hear about it and pay attention to it. I personally see this especially for people who like and want to learn trading, especially BTC, they will quickly connect, they will continue to dig up good and correct information. This is driven by curiosity and care. But for those who are already skeptical, he will continue to say that. Yes. That common thing.

For the application, I agree and support what is conveyed, enter first and then we will know how this crypto works, don't say it right away and the verdict in language that is not pleasant for us to hear "It's like gambling". For me, there is an art of trading which, if you look at it, is easy, but we are always invited to think about it and exercise patience in controlling our emotions.

[Yamifoud]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

There is no wrong with crypto but there is wrong with your friend and the way he enters and buys tokens. I suspected that he bought scam coins and it was not a surprise from losing them.

I do believe that someone who knows about how crypto works will never compare this to gambling. And from what you have heard from your friend, it tells us that he never does research prior to investing. He probably jumps on it without knowledge and then blames crypto for his mistake.

 - what we did is the result of our doings and if we are too careless, then we can never expect positive outcomes but surely negative.

[Gadei Blang Gapu]

The problem is that your friend isn't interest in cryptocurrencies.  

He is just looking for a quick and easy money. He will most likely get scammed, which ponzy schemes and similar...

He isn't interested in cryptocurrencies,  neither bitcoin.

Bitcoin may not offer quick and easy money, but probably some use cases may interest him

Sir, For Point 2. If that's the reason, I agree. But how can it be overcome and not take more victims. please explain @bitmover. So that we, who are just here, don't get caught up in the Batman trap in this digital money world and last you say i also agre Bitcoin may not offer quick and easy money, but probably some use cases may interest him.

[Inwestour]

They only think about results, not a process or what could be the trigger to be able to produce. found the fact that many beginners do not know the basic science of trading and investing and they fail to do research. it will certainly have an impact on the investment or trade made. It's not just a matter of having money or not, it's useless if you have money but don't have the knowledge, then they just do everything with logic and according to their feelings. it just seems like guessing the price without any analysis. That is the reason why crypto will be a mistake for some people.

Haste is a bad ally in many ways, especially for beginners to cryptocurrencies. Instead of doing fundamental analysis before buying, they rush to follow some advice, or just buy some coin at random, because it seems to them a good deal.

But it doesn’t work like that, if you don’t have the necessary knowledge and experience, then you can’t expect a positive result. And the reason here is not that cryptocurrencies are not for everyone, but that before you start investing in anything, you first need to figure out very well whether now is the right time to buy, you need to have a plan of action in case the price starts to fall, and know when to sell. If all this is not there, then most likely a lot of mistakes will follow and, as a result, a loss of money.

[BD Crypto]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

Do your friend think that Crypto is a get rich quick scheme? Do he have any idea about coins or tokens? Do he have any investment strategy or knowledge about researching a cryptocurrency before investment? I don't think he have. None but beginners who don't have much knowledge or want a quick profit invest in suspicious tokens and these tokens can be manipulated or team can dump it's price. So it's obviously a bad idea to invest in a risky token or investing a huge amount in a single token. You have to divide your total investment in some of potential coins or tokens. I will always recommend only top ranked coins or tokens to invest for long term. One more thing, Without research or strategy crypto investment is more worst than gambling but they are different sector.

Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Gaining success in every sector is difficult for lazy people. We must have proper knowledge about where we are investing or what are the advantages or risks involved. Everyone can easily gain knowledge about cryptocurrency or any investment from here or YouTube or articles. It's better not to be involved where you don't have at least basic knowledge.

[CageMabok]

Sir, For Point 2. If that's the reason, I agree. But how can it be overcome and not take more victims. please explain @bitmover. So that we, who are just here, don't get caught up in the Batman trap in this digital money world and last you say i also agre Bitcoin may not offer quick and easy money, but probably some use cases may interest him.

For Bitcoin it is not only interesting in terms of its use, but also interesting to make it as a future asset because Bitcoin has been liked by many people so it has provided a good opportunity for everyone to own it from now on. If you are a new person here whose name is directed to Indonesian territory, you only need to protect yourself and the assets you already have from the traps set by other people.

Even though people are usually new to the world of digital money, they are still reluctant to make large purchases because they may not know which cryptocurrency to buy. But you don't need to worry about that, because as long as you are not so trusting and willing when someone asks you to follow something or invites you to do something, you will never fall into the Batman trap that you meant.

[Patrol69]

Investing in crypto currency is not right for those people who know nothing about investing and only think about the positive aspects of investing. Maybe the person currently has money, so he is thinking of investing his money only to increase his money, but he does not think that if he invests, he can increase his money as well as lose it. There are some people who don't like to take risk and for those people it is better not to invest in crypto platform. If there is a tendency to take risks, thinking about investing without having a good understanding of the market, getting anxious if the money is slightly damaged, those who have such qualities should not invest in these platforms investing in these platforms will not be a good decision for them.

[kamvreto]

Haste is a bad ally in many ways, especially for beginners to cryptocurrencies. Instead of doing fundamental analysis before buying, they rush to follow some advice, or just buy some coin at random, because it seems to them a good deal.

But it doesn’t work like that, if you don’t have the necessary knowledge and experience, then you can’t expect a positive result. And the reason here is not that cryptocurrencies are not for everyone, but that before you start investing in anything, you first need to figure out very well whether now is the right time to buy, you need to have a plan of action in case the price starts to fall, and know when to sell. If all this is not there, then most likely a lot of mistakes will follow and, as a result, a loss of money.

Then the basic knowledge of trading is very important to learn. As well as doing research will provide a view that what will happen in the market. Everything must be done with good management, without management there will be no definite profit. when to buy and when to sell will indeed be what matters. looks simple, but in practice it will be difficult because it will be related to the advantages and disadvantages. there is no need to rush because it is a vice that will impact many things.

[lionheart78]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Not only lazy but those who are weak of heart.  Also for those who have no interest in cryptocurrency.  In order to be successful in a cryptocurrency venture, one must be tough, eager to learn and passionate about cryptocurrency.  The cryptocurrency market is not gambling where one can have a chance of winning money with just a strike of luck.  Anyone who wanted to take profit from this venture needs to do research and keep updating himself about the updates and news of cryptocurrency.  So hard work is also needed aside from the knowledge and learning we gain from studying and researching the market.

[Viscore]

Cryptocurrency goes to the wrong way when a user of the coin mismanaged the coins. And also the way you use it will also determine the success story in your life. There is no way you cryptocurrency for gambling and you will come and tell me that you didn't mismanaged you coins. And there is no way you spend your coins for women and you will come and tell me that you didn't mismanaged your coins. My brother there are many things that can at up one bitcoin or cryptocurrency career.

It's quite simple to understand this, because those who use it incorrectly will always end badly and will not get any profit from the coin. I think there is no need to think about those who are wrong in using coins because there are many good ways that you can use to make a profit through the coins that we each have. This is about how it is used only, not about an acknowledgment from someone in how he used the coin to get nothing.

Exactly. People who are much knowledgeable on how to use and benefit from their bitcoin will always end up making profits, while those who do the opposite and just invest with greed will never end up in a successful investment. However, know that everything can be learned about bitcoin, but if you have established your wrong perspective about bitcoin, I guess that alone will never make you successful and profitable.

[Botnake]

I honestly think that beginner investors have the wrong mindset about understanding the basics of cryptocurrencies. They think that this kind of platform is a gateway in order to absoultey reap rewards after they invested a certain amount of money. But in reality, investing in cryptocurrencies require all the patience, determination, and knowledge similar to your conventional investment mechanisms (e.g. stocks, banks, real estate, etc.).

If a person wants to profit in cryptocurrency, then they should treat it seriously- investing without knowing what you just entered into results into loss of your profit in the future.

Whether they’re newbies or not, the fact that they have invested the wrong way will definitely lead them into consistent mistakes and losses. That’s why a lot have end up quitting because they never had the chance to correct their mistakes and just thought that quitting for good is a good option to cut their losses instead. However, for those who have re entered the market and are wiser enough, then they will not do the same mistakes again but chose to invest rightly not to maximize their profits, but also to minimize their losses as well.

[Mr.suevie]

I honestly think that beginner investors have the wrong mindset about understanding the basics of cryptocurrencies. They think that this kind of platform is a gateway in order to absoultey reap rewards after they invested a certain amount of money. But in reality, investing in cryptocurrencies require all the patience, determination, and knowledge similar to your conventional investment mechanisms (e.g. stocks, banks, real estate, etc.).

If a person wants to profit in cryptocurrency, then they should treat it seriously- investing without knowing what you just entered into results into loss of your profit in the future.

Whether they’re newbies or not, the fact that they have invested the wrong way will definitely lead them into consistent mistakes and losses. That’s why a lot have end up quitting because they never had the chance to correct their mistakes and just thought that quitting for good is a good option to cut their losses instead. However, for those who have re entered the market and are wiser enough, then they will not do the same mistakes again but chose to invest rightly not to maximize their profits, but also to minimize their losses as well.

Well experience is good for correction of mistake and everyone who has gotten involved into crypto and experience defeat or loses before should not just quit I think they should use it as learning point and take to correction for every mistake they made. Winners never quitting and quitting never win so quitting it's definitely not an option but so many supposed crypto enthusiast failed to understand this

[Mr.right85]

I your ideas when investing in cryptocurrency isn't a open one or one that doenst conceive the possibility of a lose as well, you would be doing it all wrong and it would be the more disastrous when it hits you.

One who doesn't anticipate the possibility of a lose is one who doesn't evaluates the risk, goes ahead to invest more than he or she can afford to lose and when the lose starts piling up, a pull back is often off the table as they Hope for a come back and many at times, it's not always the case.

Cryptocurrency is money but this money isn't just distributed to the number of investors out there but, serves for a means of investors having to ask and bid in an attempt to make best use of the facilities to earning them.

[mamesso]

In general, crypto is not wrong for some people, if other people can make big profits in Crypto investments, why can't your friends. The loss of thousands of dollars that your friend experienced after investing in crypto tokens is not crypto's fault, but his act of investing in crypto tokens does not have sufficient knowledge. There is nothing wrong with crypto, people involved in crypto are required to continue to analyze before deciding to invest in a token.
When you can't read, don't blame the book, it means there's something wrong with you.

[Negotiation]

I think not that crypto can be wrong for some people maybe they have no knowledge about crypto investing in crypto is not easy. There are many technical and financial issues that you need to learn first don't try to time the market Everything seems so logical and obvious when you look back in time. You may regret not buying bitcoin at a lower price or selling it at its peak. This regret will remain you do your research and if you think a certain crypto is underpriced buy it. Or if you think it's overvalued now, sell it there is nothing wrong with crypto, everything is easy if you invest in the right way.

[Inwestour]

Then the basic knowledge of trading is very important to learn. As well as doing research will provide a view that what will happen in the market. Everything must be done with good management, without management there will be no definite profit. when to buy and when to sell will indeed be what matters. looks simple, but in practice it will be difficult because it will be related to the advantages and disadvantages. there is no need to rush because it is a vice that will impact many things.

We need to evaluate the situation in the market and sometimes we need to adjust our initial goals, if we see that the market has good prospects for further growth, but this is easier to do when you have an initial plan of action.

I used to buy and did not think about when I would sell, I just acted according to the market, often I sold earlier than necessary and missed a good profit. Now I have a different strategy, I evaluate the potential of the coin globally, buy and wait for the goals set, it is initially clear to me what to do in this or that situation.

[odunybiz]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Your friend made the wrong decision for himself, and how did he get to know about cryptocurrency that led him to invest without having the basic knowledge of where he was putting his money? I think even in real business where you invest in somewhere like a shop, buying goods to keep, and other things require knowledge before starting, so I'm really surprised when your friend invested in cryptocurrency without the knowledge.

He got to know about it through social media even before I came into crypto. He was added to a group where they were taught about it but I believe he should go for more knowledge through research before going ahead to invest. He never did. He think making money from crypto is that easy as some people use to say. That was what has put him in that serious mess.

[YUriy1991]

He got to know about it through social media even before I came into crypto. He was added to a group where they were taught about it but I believe he should go for more knowledge through research before going ahead to invest. He never did. He think making money from crypto is that easy as some people use to say. That was what has put him in that serious mess.

The reality is that many people just say it when they have problems, like @Dzwaafu11 said, it's absolutely right. But, what your friend did was right too. Maybe at that time in a position of confusion in making decisions. Naturally, was an experience he probably couldn't forget. So, if he plans to enter the market again, he will definitely be more careful so that he doesn't make the wrong decision and doesn't lose his thousands of dollars again.

[Issa56]

He got to know about it through social media even before I came into crypto. He was added to a group where they were taught about it but I believe he should go for more knowledge through research before going ahead to invest. He never did. He think making money from crypto is that easy as some people use to say. That was what has put him in that serious mess.

If you heard about cryptocurrency and you just decided to go and invest in it, then you are getting everything wrong already, because most people that are going to teach you about cryptocurrency on social media wont be open to you, they will only be talking about the profit which you can make from cryptocurrency, but they will never talk about the loss, that's why you don't just have to believe everything you see on the social media, after learning from social media, you still have to go on your own to do more research. cryptocurrency is all about profit and lose, but some people just focus on the profit alone and forgetting about the lose, so whenever they end up losing, they will get disappointed and they will end up tagging bitcoin and cryptocurrency as a scam.

[RockBell]

Investing in crypto currency is not right for those people who know nothing about investing and only think about the positive aspects of investing. Maybe the person currently has money, so he is thinking of investing his money only to increase his money, but he does not think that if he invests, he can increase his money as well as lose it. There are some people who don't like to take risk and for those people it is better not to invest in crypto platform. If there is a tendency to take risks, thinking about investing without having a good understanding of the market, getting anxious if the money is slightly damaged, those who have such qualities should not invest in these platforms investing in these platforms will not be a good decision for them.

Since con artists are skilled at persuasion, they will always try to make you look bad in order to take advantage of the situation. This is why people are falling victim to scams simply because they lack knowledge and are unwilling to conduct research. As a result, even when you keep warning people to stop investing in projects they don't understand, they continue to be interested in the potential profit. As you mentioned in terms of understanding the market, there are different strategies that favor different people; you can do daily trading and also stake whatever suits everyone after research. Dealing with cryptocurrencies has to do with a number of factors that people don't understand about investing, such as the fact that as you calculate the profit you should also take the loss into consideration. This is because they forget that every business has its risk, and some risks might just favor them since it's a 50/50 thing. and be that the might is not stable we all need to be smart.

[Taskford]

He got to know about it through social media even before I came into crypto. He was added to a group where they were taught about it but I believe he should go for more knowledge through research before going ahead to invest. He never did. He think making money from crypto is that easy as some people use to say. That was what has put him in that serious mess.

The reality is that many people just say it when they have problems, like @Dzwaafu11 said, it's absolutely right. But, what your friend did was right too. Maybe at that time in a position of confusion in making decisions. Naturally, was an experience he probably couldn't forget. So, if he plans to enter the market again, he will definitely be more careful so that he doesn't make the wrong decision and doesn't lose his thousands of dollars again.

Mostly scam investment platforms or shitcoins is the common thing introduce by many people especially on social media since majority of them are just into referral fees and they just convince newbie to participate then leave them at risky situation.
For sure a lot of us experience this and since we encounter it already for sure he or other will never go back to that platforms again and will be more careful on next investment they want to take. The only key to avoid scam here is to research so hopefully newbie learn to do this before they regret their decisions made.

[Luzin]

cryptocurrency is all about profit and lose, but some people just focus on the profit alone and forgetting about the lose, so whenever they end up losing, they will get disappointed and they will end up tagging bitcoin and cryptocurrency as a scam.

Mybe he not studied the risks before investing in crypto?  I think if he had known this, he wouldn't have regretted much. Especially if he is a new person, he should start with a nominal that is not much to study. At the moment I understand crypto is not gambling, provided you don't rely on luck to make a profit. If he regrets it and giving up is bad, he should have persevered and tried to learn and return the lost funds. But not everyone has the mentality I said.

[Dunamisx]

I want you to agree with me that not everybody who is into cryptocurrency truly understand how the whole thing is being done within the blockchain technology and network, the issue here is not with the network but on people's interest to know and understand the requirements for using such and how it fully operates, when we have a good idea on this, we will make use of every opportunities to maximize the potentials in learning about cryptocurrency for our own good.

[Alpha Marine]

The problem is that your friend isn't interest in cryptocurrencies.  

He is just looking for a quick and easy money. He will most likely get scammed, which ponzy schemes and similar...

He isn't interested in cryptocurrencies,  neither bitcoin.

Bitcoin may not offer quick and easy money, but probably some use cases may interest him

Sir, For Point 2. If that's the reason, I agree. But how can it be overcome and not take more victims. please explain @bitmover. So that we, who are just here, don't get caught up in the Batman trap in this digital money world and last you say i also agre Bitcoin may not offer quick and easy money, but probably some use cases may interest him.

You have to know that there's no quick way to make money. When people bring an offer that is too good to be true, always be skeptical about it. When they assure you that you'll get your profit within a given period which is usually a short period and the profit most times will be 100% or more of the money you invested.
Another thing is when they offer you a "no-risk" investment. That's a whole load of bullshit. An investment must carry risk. Some risk may be bigger than others, but there is always a risk.

Know that you have to put in the work in whatever you do. Don't try to cut corners, it's when you try to cut corners that you get hurt. There are other ways that scam investments can be brought to you. Don't be greedy. They feast on your greed. You've seen a once in a lifetime opportunity and you want to hop on it immediately, don't. Take a step back, rethink. Make research, ask questions, be sure it's legit, know all the risk involve before getting involved.

[Bushdark]

I want you to agree with me that not everybody who is into cryptocurrency truly understand how the whole thing is being done within the blockchain technology and network, the issue here is not with the network but on people's interest to know and understand the requirements for using such and how it fully operates, when we have a good idea on this, we will make use of every opportunities to maximize the potentials in learning about cryptocurrency for our own good.

Whwn we don't want to learn thwn can be unfortunate enough to make loses as a cryptocurrency trader or investor. It is very important for us to be ready to learn the necessary thimgs that are important and required for us to be the type of investor we want to be. Some persons just enter into the crypto world because they see people making money from it and they too want to make money from crypto.

 Loses will come when are not patient will what we are holding and we are always ready to sell our holdings even when we have to make the kind of profits that will make us to be more profitable. Some persons will sell there holdings even when they arr losing because they feel so afraid and they don't want to make any loses.

[landheer]

In general, crypto is not wrong for some people, if other people can make big profits in Crypto investments, why can't your friends. The loss of thousands of dollars that your friend experienced after investing in crypto tokens is not crypto's fault, but his act of investing in crypto tokens does not have sufficient knowledge. There is nothing wrong with crypto, people involved in crypto are required to continue to analyze before deciding to invest in a token.
When you can't read, don't blame the book, it means there's something wrong with you.

yes, we no need blame crypto because what's wrong is the people who invest in crypto because before investing in crypto they didn't do technical, fundamental and other research.
so before investing in Crypto, you must prioritize knowledge so you don't have the potential to lose.

[Awaklara]

Another thing is when they offer you a "no-risk" investment. That's a whole load of bullshit. An investment must carry risk. Some risk may be bigger than others, but there is

no investment is without risk. those who offer such things are obviously scammers. unfortunately, many beginners are trapped with such a perception. seeing ads or advice related to Bitcoin investments with the promise of quick profits from a platform. and when they don't make a profit or even have their money stolen, the blame is on Bitcoin. not the scammer. that's what makes a lot of negative views of Bitcoin. which was actually created by people who don't have enough knowledge to define Bitcoin and how it works.

[YUriy1991]

He got to know about it through social media even before I came into crypto. He was added to a group where they were taught about it but I believe he should go for more knowledge through research before going ahead to invest. He never did. He think making money from crypto is that easy as some people use to say. That was what has put him in that serious mess.

The reality is that many people just say it when they have problems, like @Dzwaafu11 said, it's absolutely right. But, what your friend did was right too. Maybe at that time in a position of confusion in making decisions. Naturally, was an experience he probably couldn't forget. So, if he plans to enter the market again, he will definitely be more careful so that he doesn't make the wrong decision and doesn't lose his thousands of dollars again.

Mostly scam investment platforms or shitcoins is the common thing introduce by many people especially on social media since majority of them are just into referral fees and they just convince newbie to participate then leave them at risky situation.
For sure a lot of us experience this and since we encounter it already for sure he or other will never go back to that platforms again and will be more careful on next investment they want to take. The only key to avoid scam here is to research so hopefully newbie learn to do this before they regret their decisions made.

True, Must be careful, especially for beginners. yes. if you really intend to trade in the world money market and of course the individual already has sufficient capital. The first thing you need to do is find a friend (mentor) who is familiar with the world of digital money and understands the stages of trading. then, the Mentor is able to provide direction/guidance and not just let go or let it go but in control of him as well.

For novice traders. Follow the directions and obey them properly. Well, There was born with positive questions and answers because real evidence will emerge from what he has done. As for the maturation of theory, I think it's just a matter of looking for the references and pairing them with what he has done. Important pints. the mentor always accompanies and gives good and correct directions so that beginners are confident, excited about investing.

[Promocodeudo]

To my understanding not all coin is worth investing in, I think am not in the position to advice your friend because am still in the learning process, but if I am permitted to advice your friend, I will suggest that he should seek for the knowledge first, this will prepare him on the decision of the right crypto to invest in, and how to go about it.

With the knowledge I got here in the forum crypto is a long-term investment stuff, so you should not expect that you start profiting in it immediately, that's why we need to invest in what we know, so that we won't regret later.

Op I see your friend as someone who needs quick money, so I don't think crypto is for him, I believe in business most time your investment doesn't bring fortune the way you expect it, but your greatest victory will be for you to replan and see if you could get it right or better still, there are several cryptocurrency, and bitcoin is one of them, may be your friend can read more about it to get the knowledge required, that's if he find it interesting.

[Taskford]

Another thing is when they offer you a "no-risk" investment. That's a whole load of bullshit. An investment must carry risk. Some risk may be bigger than others, but there is

no investment is without risk. those who offer such things are obviously scammers. unfortunately, many beginners are trapped with such a perception. seeing ads or advice related to Bitcoin investments with the promise of quick profits from a platform. and when they don't make a profit or even have their money stolen, the blame is on Bitcoin. not the scammer. that's what makes a lot of negative views of Bitcoin. which was actually created by people who don't have enough knowledge to define Bitcoin and how it works.

Scams are one of the reason why crypto became wrong to them since it creates bad impression to newbies that crypto is just a tool for scams since they had bad experience on early stage of their investment.
If they just been well guided and get an advice that ponzi scheme platforms is really bad choice maybe they will be more careful or will not decide to invest on any platform offers same system to them.
We have a lot of source of information so better for people experience bad on their first try should research to know what are things that can help them on their investments on crypto.

[Ziskinberg]

no investment is without risk. those who offer such things are obviously scammers. unfortunately, many beginners are trapped with such a perception. seeing ads or advice related to Bitcoin investments with the promise of quick profits from a platform. and when they don't make a profit or even have their money stolen, the blame is on Bitcoin. not the scammer. that's what makes a lot of negative views of Bitcoin. which was actually created by people who don't have enough knowledge to define Bitcoin and how it works.

Scams are one of the reason why crypto became wrong to them since it creates bad impression to newbies that crypto is just a tool for scams since they had bad experience on early stage of their investment.
If they just been well guided and get an advice that ponzi scheme platforms is really bad choice maybe they will be more careful or will not decide to invest on any platform offers same system to them.
We have a lot of source of information so better for people experience bad on their first try should research to know what are things that can help them on their investments on crypto.

It was hard to convince and educate someone especially if you already have a bad experience (like a scam). There is misunderstanding and confusion around, that is what I see because many influencers and self-proclaimed crypto experts, they'll get into different opinions which is why a reader couldn't say which one is right and which one is wrong. If we only have just one book published and one author, definitely we all have the same market views. Unfortunately, there is nothing, and what we have mostly read online are from different people who also have some conflicts of opinion.

[Taskford]

no investment is without risk. those who offer such things are obviously scammers. unfortunately, many beginners are trapped with such a perception. seeing ads or advice related to Bitcoin investments with the promise of quick profits from a platform. and when they don't make a profit or even have their money stolen, the blame is on Bitcoin. not the scammer. that's what makes a lot of negative views of Bitcoin. which was actually created by people who don't have enough knowledge to define Bitcoin and how it works.

Scams are one of the reason why crypto became wrong to them since it creates bad impression to newbies that crypto is just a tool for scams since they had bad experience on early stage of their investment.
If they just been well guided and get an advice that ponzi scheme platforms is really bad choice maybe they will be more careful or will not decide to invest on any platform offers same system to them.
We have a lot of source of information so better for people experience bad on their first try should research to know what are things that can help them on their investments on crypto.

It was hard to convince and educate someone especially if you already have a bad experience (like a scam). There is misunderstanding and confusion around, that is what I see because many influencers and self-proclaimed crypto experts, they'll get into different opinions which is why a reader couldn't say which one is right and which one is wrong. If we only have just one book published and one author, definitely we all have the same market views. Unfortunately, there is nothing, and what we have mostly read online are from different people who also have some conflicts of opinion.

Also hard to have only one thing to believe since we don't have any comparison if the written information there is continuously good to us and its like monopolizing so for me its still better to have multiple source of information so that we can do more better decisions since we encounter those multiple risk. People need to exert huge efforts so that they will not victim of scams or any deceiving tactics made by those influencers so that they will not waste their money on wrong financial advices.

[crypto_imey]

In general, crypto is not wrong for some people, if other people can make big profits in Crypto investments, why can't your friends. The loss of thousands of dollars that your friend experienced after investing in crypto tokens is not crypto's fault, but his act of investing in crypto tokens does not have sufficient knowledge. There is nothing wrong with crypto, people involved in crypto are required to continue to analyze before deciding to invest in a token.
When you can't read, don't blame the book, it means there's something wrong with you.

yes, we no need blame crypto because what's wrong is the people who invest in crypto because before investing in crypto they didn't do technical, fundamental and other research.
so before investing in Crypto, you must prioritize knowledge so you don't have the potential to lose.

Absolutely, It was not a fault in crypto. Before venturing any investment, at least we have to acquire basic knowledge about that. After seeing colorful investment advertisement, if we blindly jump into it without proper risk management or knowledge, it will be disastrous. Always we need to stay educated to safeguard our investments.

[Woodie]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

What I don't understand about people saying they got scammed after investing in crypto...is how does this happen??
Think about it, if you are getting $100 worth of bitcoin today then you get the quantity worth that much, meaning plus or minus its only the value changing...Scams with crypto only happen if you invest in a shit coin and value tanks to ZERO!!!

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in.

Most of us have become lazy and want other people to do the heavy lifting for us instead of holding the bull by its horns and doing  the research ourselves.

Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

The problem is we have developed a mentality of crypto giving free money and fast returns,  when we all know it's all gambling 🎰  that has this power anything else takes time to mature!

[odunybiz]

Why did your friend invest in other tokens to have so many reliable coins in cryptocurrency? It means that your friend has very little knowledge about investments. How did he invest with this little knowledge? Since you are already familiar with cryptocurrencies, your friend should have discussed the investment with you before investing. You would have given him no wrong advice and you would have advised him to avoid investing in other's tokens and invest in reliable coins that are available in the market. In this case, the safest platform for your friend to invest in is Bitcoin. If your friend had invested in Bitcoin he would have never lost his money and would have made a good amount of money today if he had invested at the time you mentioned.

Greediness is what really kill my friend. Similar thing also normally happen to most people. They always want a project that will do 10× in few weeks or months. This made them fall in the hand of fake teams with fake project. If he had listen to my advice he wouldn't have fall into such mess.

[Bushdark]

I want you to agree with me that not everybody who is into cryptocurrency truly understand how the whole thing is being done within the blockchain technology and network, the issue here is not with the network but on people's interest to know and understand the requirements for using such and how it fully operates, when we have a good idea on this, we will make use of every opportunities to maximize the potentials in learning about cryptocurrency for our own good.

Everyone in the cryptosphere can not be successful because that are people who will become ignorant and go do there own thing falling victim to the hands of the scammers. It is very important for us to learn as a crypto investors, traders or adopters so that we may not need up doing the wrong thing. There are people who come to the cryptocurrency market with the main reason of scamming people and it is obvious that they will always get victim which are those that are still newbies in the market or those that are never ready to learn from others mistakes. The market is big and anything can happen at any point in time.

[lousie9]

Scams are one of the reason why crypto became wrong to them since it creates bad impression to newbies that crypto is just a tool for scams since they had bad experience on early stage of their investment.

All scams involving crypto do cause negative views and make people who want to know and learn about crypto doubt.
Two things that I think everyone should at least avoid so that they are not easily harmed when trying to get into the world of crypto.
The first is not equipping oneself with knowledge, if someone does not equip themselves with minimal basic knowledge, then it is certain that they will be easily deceived and suffer losses due to their ignorance or their own mistakes.
The second is greed, if someone is blinded by greed, it is certain that they will experience losses because they only think about profits.

[reagansimms]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Just like someone who just joined the Bitcointalk forum, it takes continuous learning to survive in the forum until it ranks higher. Whatever is done requires process and knowledge to achieve goals, someone who is willing to learn will slowly form to become a successful investor in Cryptocurrency. Someone who is bored within himself and is lazy to look for information related to something will never be able to develop, intention that is accompanied by a willingness to learn will increase the ability to do things including investing in Cryptocurrency.

[Taskford]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Just like someone who just joined the Bitcointalk forum, it takes continuous learning to survive in the forum until it ranks higher. Whatever is done requires process and knowledge to achieve goals, someone who is willing to learn will slowly form to become a successful investor in Cryptocurrency. Someone who is bored within himself and is lazy to look for information related to something will never be able to develop, intention that is accompanied by a willingness to learn will increase the ability to do things including investing in Cryptocurrency.

Even if your rank goes higher you still need to learn new things everyday since crypto is evolving. If you don't join the flow and be adaptive then you will miss an important thing on technology and might you will get outdated on current trend. So much better not to focus on this forum but rather also explore outside since there are new information mostly release outside before posted here. So you will have enough knowledge on the topics and contribute very well for people who want to read about new topics posted.

[CageMabok]

Greediness is what really kill my friend. Similar thing also normally happen to most people. They always want a project that will do 10× in few weeks or months. This made them fall in the hand of fake teams with fake project. If he had listen to my advice he wouldn't have fall into such mess.

Maybe your friend just doesn't believe the advice you gave him even though the suggestion sounds good to him, but he will only believe you when he has been fooled by the fake project team. That's why I don't really care about other people in terms of giving any advice because it's not certain that he will appreciate it wisely enough, and the words of advice that you issue to your friend also don't produce anything even though your intention is to help a friend so as not to get caught in the hands of a fake team on a project.

[odunybiz]

Greediness is what really kill my friend. Similar thing also normally happen to most people. They always want a project that will do 10× in few weeks or months. This made them fall in the hand of fake teams with fake project. If he had listen to my advice he wouldn't have fall into such mess.

Maybe your friend just doesn't believe the advice you gave him even though the suggestion sounds good to him, but he will only believe you when he has been fooled by the fake project team.

That's how it is in most cases for people who don't listen to advice. He even felt reluctant to tell me when this happened.

That's why I don't really care about other people in terms of giving any advice because it's not certain that he will appreciate it wisely enough

That shouldn't stop you from giving good advice to people. Even if they don't listen to it, atleast you have done your own part. They will find themselves to blame when the negative happens just like it happens to my friend. Imagine, I never advice him and he knows I know about it, he will blame me for not coming to his aid by advising him when I know much about what he's investing in.

The words of advice that you issue to your friend also don't produce anything even though your intention is to help a friend so as not to get caught in the hands of a fake team on a project.

I did my part so that I won't be blame when thing get wrong just as it later happened.

[Jones Praise]

[quote\]
First of all one needs to get sufficient knowledge and information about crypto before investing or going into it. As people say information is key. Without proper or thorough knowledge before investing in a particular business,one is bound to lose heavily. I've heard stories of people who just dive into crypto hoping to get profit without any knowledge of it all. Guess what! Most of them lost their capital
Another thing to note before going into crypto is that you have to be hardworking and consistent. Crypto ain't for llazy people.ots for people who are determined and focused to gain from it. There are other factors which hinder people from gaining in crypto. I think this will also help too
[quote/]

[Agbe]

Which of the cryptocurrencies did your friend invest into that made him to loss the thousands of dollars? And your friend was thinking that crypto is a get quick rich scheme? The fault might come from the person that introduced him to the cryptocurrency Ecosystem, the person would have told him the risk involved. Investing in cryptocurrency is different from gambling. Investing in cryptocurrency is a long term plan while gambling is a short term and gambling is not an investment. Those who understand cryptocurrency do not loss in the investment because they know when to invest and when to sell their token.
Laziness has nothing to with cryptocurrency investment because it is not something you are struggling with. You only but and store them in your wallet so in what way laziness come to cryptocurrency?

[kamvreto]

Which of the cryptocurrencies did your friend invest into that made him to loss the thousands of dollars? And your friend was thinking that crypto is a get quick rich scheme? The fault might come from the person that introduced him to the cryptocurrency Ecosystem, the person would have told him the risk involved. Investing in cryptocurrency is different from gambling. Investing in cryptocurrency is a long term plan while gambling is a short term and gambling is not an investment. Those who understand cryptocurrency do not loss in the investment because they know when to invest and when to sell their token.
Laziness has nothing to with cryptocurrency investment because it is not something you are struggling with. You only but and store them in your wallet so in what way laziness come to cryptocurrency?

Yes, there is no correlation between laziness and crypto, what should be the main focus is discipline in carrying out the strategy that has been made and not breaking it. Introducing the crypto ecosystem must also be correct, don't just give a successful example that everyone wants. But also provide examples of risks that could occur. Investment is a long term plan with a specified target price. whereas trading is taking advantage of every crypto price fluctuation to make quick profits. A distinction must be made between investment and trade. Crypto will be wrong for those who do not place according to their interests.

[ZAINmalik75]

When ever someone try shortcut in order to get quick profit in Cryptocurrency instead of deep research and analysis then some time he will get profit but most of the time market will dominate him by Huge loses and will behave with him like gambling, I don't know why people think Crypto is like free treasury where you can get huge rewards freely, you friend choose such kind of unknown shit coin which has a history of scam and most of them didn't even touch his ATH after launch So if he choose Bitcoin or some famous AltCoins like Ethereum, Bnb then results will be totally change but it's lesson for them if he is a true crypto fan.
So before dip in Cryptocurrency you should learn basic and few given points
• Fully understanding the dynamic of markets
• Fluctuation of their price Volatility
•Market manipulation

[Rupok]

You are right most people hear about crypto and want to invest in it without knowing how it works hoping to get high profits.  But when he loses, he compares crypto to gambling.  Your friend is facing this problem because he invested the wrong token.  Crypto trading involves high risk so it is important to gain knowledge about how it works and analyze each token before investing.Most people in cryptocurrency want to get rich in a shortcut.  So they buy different sheet coins without considering anything and your friend doesn't know most sheet coins have scam history.  And that is why your friend has faced loss.

[GbitG]

This is the misinterpretation that is made by many people in the cryptocurrency space: they don't have much more knowledge about it, but they have covetousness about money. The specimen @odunybiz is in front of us. This friend said that his friend lost thousands of dollars investing in tokens. He chose a token rather than a profitable coin. There are many alts on the market that give you much more profit than you think. With the aspect of my this caused were by the lack of knowledge and unawares.    "All that glitters is not gold." if he had proper education about how the cryptocurrency space works and what it needs. it's mean that aware him self about all knowledge that which needs by a professional analyzer. 
To negotiate with these types of tussles, it is more important to get broad knowledge, stay informed, and approach investment with measured aspects.